The global stainless steel control valves market is thus expected to expand at a CAGR of 5.0% between 2014 and 2023. In 2014, the market was worth US$240.0 mn and is projected to touch a valuation of US$371.6 mn by the end of 2023.
Albany, NY -- (SBWIRE) -- 04/09/2018 -- Stainless steel control valves (less than 2 inches) are primarily used for controlling pressure, flow and liquid level of fluid systems, by either partially or fully opening or closing the valve in response to the signals received from controllers. Their resistance to corrosive fluids and ability to function in wide temperature ranges are primary reasons for their applications across various industry verticals. The global stainless steel control valves (less than 2 inches) market has been segmented on the basis of actuation technology, types, end-use industry and geography. A cross sectional study of the global stainless steel control valves (less than 2 inches) market across broad geographical segments such as North America, Europe, Asia-Pacific (APAC) and rest of the World (RoW) has also been covered under the scope of the study.
The market for control valves is primarily driven by factors such as increasing applications in chemical industries of APAC, growing importance of wastewater management globally and rapid growth of application of small scale fluid handling systems in semiconductor & electronic manufacturing industries among others. Moreover, wastewater management is increasingly becoming important across the globe due to the scarcity of surface water in various regions. Hence, in this industry vertical also stainless steel control valves (less than 2 inches) are seeing increasing applications globally. Furthermore, the current demand for electronic devices is leading to good growth of the semiconductor and electronics manufacturing industry, thus positively impacting the application of stainless steel control valves (less than 2 inches). Increasing numbers of industrial infrastructure projects, along with commercial and residential projects, in developing nations is also expected to boost the demand for stainless steel control valves (less than 2 inches) during the forecast period.
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The current global trends of increasing demand for energy, rising demand for upgrading waste management facilities, and growing demand of consumer electronics are some of the factors which have been positively impacting the application of stainless steel control valves (less than 2 inches) in such industries. Electric stainless steel control valves (less than 2 inches) are more efficient and enable greater level of controls as compared to the other type of valves. Increasing emphasis on industrial automation has also being positively impacting the application of stainless steel control valves (less than 2 inches).
The competitive profiling of the key players in the global stainless steel control valves (less than 2 inches) market and their market shares across four major geographic regions which include North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW) has been exhaustively covered under the purview of the study. Moreover, the distinct business strategies that have been adopted by the major players in the market have also been included in the report. For providing a detailed insight into the global stainless steel control valves (less than 2 inches) market, the market attractive analysis has been provided in the report. The different distribution channels and various participants of each distribution channel has also been included in the report for a better understanding of the distribution process of the stainless steel control valves (less than 2 inches).
A comprehensive analysis of market dynamics, which include the market drivers, restraints and opportunities, is included under the scope of the report. Market dynamics are the distinctive factors that influence the growth of the specific market and therefore help to study the current trends in the global market. Thus, this report provides an inclusive study of the global stainless steel control valves (less than 2 inches) market and also provides the forecast of the market for the period from 2015 – 2021.
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Some major players in the market are: Emerson Electric, Co. (U.S.), Flowserve Corporation (U.S.), IMI Plc (U.K.), Metso Corporation (Finland), Pentair, Plc (U.K.), General Electric, Co. (U.S.), MIL Controls Limited (India), Samson AG (Germany), SVF Flow Controls, Inc (U.S.), Crane & Co. (U.S.), Velan Inc. (Canada), Armstrong International, Inc.(U.S.), Kimray Inc. (U.S.), Christian Burkert GmbH & Co. KG (Germany), Swagelok Co. (U.S.), Cameron International Corporation (U.S.), CIRCOR International, Inc. (U.S.) and Richards Industries, Inc. (U.S.) among others.
The global stainless steel control valves (less than 2 inches) market has been segmented into:
Stainless Steel Control Valves (Less than 2 inches) Market, by Actuation Technology
Manual Control Valves
Pneumatic Control Valves
Hydraulic Control Valves
Electric Control Valves
Electric Valves to Lead in Terms of Actuation Technology
Owing to factors such as their increasing application in commercial, industrial, and residential sector, the global market for electric stainless steel control valves is anticipated to expand significantly in the upcoming years. Industrial and economic development in emerging economies such as Brazil, China, and India is expected to drive the growth of this segment. The electrical control valves market is expected to touch a valuation US$134.4 mn by 2023. The industrial sector is the largest user of electric stainless steel control valves.
Manual control valves are likely to be yet another key segment in terms of actuation technology. The use of manual stainless steel control valves in the residential sector is likely to boost the growth of this sector in the coming years. Their increasing use in the emerging economies is anticipated to drive the growth of this segment in future.
Stainless Steel Control Valves (Less than 2 inches) Market, by Types
Ball Control Valves
Butterfly Control Valves
Cryogenic Control Valves
Globe Control Valves
Stainless Steel Control Valves (Less than 2 inches) Market, by Application:
Oil & Gas
Semiconductor & Electronics Manufacturing
Stainless Steel Control Valves (Less than 2 inches) Market, by Geography:
Rest of Europe
Rest of Asia Pacific
Rest of the World
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Asia Pacific to Generate Highest Revenue Owing to Increasing Number of Vertical Industries
The market for stainless steel control valves in Asia Pacific is driven by the rapid development of industrial infrastructure and the growing investment in several vertical industries. In countries such as India and China, the growth in chemical and semiconductor and electronics industries is driving the demand for stainless steel control valves. With the increasing consumer base of various industries in the region, the need for swift production process is also rising. This in turn is impelling manufacturers to set up more manufacturing plants resulting in a boost in the sales of stainless steel control valves. Asia Pacific is projected to account for 43.5% of the global revenue.
North America is expected to emerge as the second largest region in terms of consumption due to the expanding power generation, wastewater management, and oil and gas industries. Leading players in various sectors in the region are investing in technological investments for the development of the vertical sectors, in turn increasing the consumption of stainless steel control valves. Moreover, the rising demand for energy is likely to increase the drilling activities in the region. These factors are likely to help maintain the stable growth of the North America stainless steel control valves market.